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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Government policies
- Individual agents and markets (correct)
- Global economic systems
- Currency exchange rates
What does macroeconomics analyze?
What does macroeconomics analyze?
- The economy as a system (correct)
- Small-scale market interactions
- Local government policies
- Individual consumer behavior
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Describing 'what is' vs predicting 'what will be'
- Describing 'what ought to be' vs advocating 'what is'
- Advocating 'what is' vs describing 'what ought to be'
What are the key factors affecting macroeconomics?
What are the key factors affecting macroeconomics?
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What are the main elements analyzed in economics?
What are the main elements analyzed in economics?
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What does microeconomics focus on?
What does microeconomics focus on?
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What does macroeconomics analyze?
What does macroeconomics analyze?
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What are the broad distinctions within economics?
What are the broad distinctions within economics?
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What does normative economics advocate?
What does normative economics advocate?
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What are the examples of individual agents in microeconomics?
What are the examples of individual agents in microeconomics?
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